Is it worth growing a family on a tight budget?

“A Man Should Never Neglect His Family For Business” – Walt Disney

A profound quote by an incredible man who tried in his lifetime and after, to bring together kids and adults as a family to share quality time. Being involved in a business, there is a possibility of taking oneself too seriously and neglecting all the other things which brought in much pleasure. And many a times, family bears the brunt of it.

But in this ever changing scenario, how feasible is it to build a family and grow? This is a deeply subjective question with no straight forward answer. The onus lies in understanding the clear difference between needs and wants.

It is possible to bring up children comfortably while making a few sacrifices, because luxurious lifestyles and tight budgets don’t go hand in hand.

Let’s list you few below –

  • Set a Goal – Make sure you and your family are aware of the common goal and make sure there are no derailments and support each other to achieve the same. For eg: I went on family leave after giving birth, than earlier after co-ordinating with my work and family.
  • Have a realistic working budget – Account for your savings and expenses at the start of the month and work within the limitations of the same.
  • Save and then Spend – It is always advisable to first save for your future expenditure and then manage in the remaining amount.
  • Prioritize – Again, the exercise of distinction between needs and wants to be followed by the whole family.
  • Invest in yourself – Investing and Finance are areas where there is a lot of knowledge and learning, which would prove to be beneficial.

Through the time it has been proven that kids raised with basic amenities have a higher understanding of managing finances and empathy, which are positive traits to be lauded by all.

Scroll To Top